Tesla just recently surpassed Mercedes-Benz and Toyota to become the most valuable automotive brand globally. The US EV maker moved up two spots on the list of automotive brands and is now valued at a whopping $66.2 billion.has been through some tough times over the last few years, though 2023 has been arguably positive thus far. The brand opened the year with major price cuts that are still underway, which is causing much grief for rival brands.
Brand Finance looks at 5,000 brands and publishes over 100 reports as it compiles its brand ranking lists each year. It features both the most valuable, as well as the strongest, automotive industry brands in its annualreport claims that this is the first time Tesla has been at the top of its automotive brand value list. The publication also notes that it's the first time an automaker has been at the top of the list that doesn't produce any gas-powered vehicles.
The report goes on to share that Tesla's current value is over five times higher than its pre-pandemic value. Last year's automotive brand value leader,held the second-place position in 2022, and its value is now down a whopping 18%, at $52.5 billion. The Japanese automaker recently got a new CEO and is planning on moving forward with an EV future, though it's seen by many as too little too late.
What does this even mean? This makes no sense. $TSLA is like half $1 trillion valuation.
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Source: InsideEVs - 🏆 579. / 51 Read more »